By KRISASSETS HOLDINGS BERHAD
Type Announcement
Subject OTHERS
Description KrisAssets Holdings Berhad ("KrisAssets" or "Company")
The abbreviations used in this announcement are consistent with the Circular to Shareholders of the Company dated 5 June 2012 ("Circular"). The Company wishes to bring the shareholders' attention to item 9, paragraph 4 on page 19 of the Circular, which is reproduced as below:
"However, the Board has no intention to maintain the listing status of KrisAssets. KrisAssets will be voluntarily wound-up upon completion of theProposed Distribution, and accordingly be de-listed by Bursa Securities pursuant to paragraph 16.11(2)(c) of the Listing Requirements and the shareholders of KrisAssets will then hold unlisted shares in the Company until the completion of the winding-up process and be entitled to cash distribution resulting from the recoverability of the remaining assets (net of liabilities), if any, on a pro-rata basis."
The Company also wishes to highlight that the Proposed Distribution will be completed following the cash distribution to be payable on 6 February 2013to the entitled shareholders of KrisAssets which was announced on 3 January 2013.
The Board of KrisAssets hereby informs that an extraordinary general meeting will be convened by end May 2013, to seek the approval of the shareholders to wind-up KrisAssets ("Proposed Members' Voluntary Winding-Up") and to appoint liquidators to facilitate the liquidation process.
Based on the unaudited consolidated financial statement of KrisAssets as at 30 September 2012, the proforma net tangible assets of the Company is
RM0.03 after taking into consideration the following events:
(i) the Distribution-In-Specie of 2,729,913,887 IGB REIT units on 19 October 2012;
(ii) the interim single tier dividend of 28.8 sen per share paid on 28 December 2012; and
(iii) the cash distribution of RM2.60 per share, to be paid on 6 February 2013.
The net realisable value cannot be determined at this juncture. The final distributable amount after the Proposed Members' Voluntary Winding-Up is subject to the actual proceeds to be received by the liquidators after full settlement of liabilities and realisation of assets.
The Company is not aware of any factor which may have contributed to the high trading volume and current share price of KrisAssets. This announcement is dated 17 January 2013.
Company Name KRISASSETS HOLDINGS BERHAD Stock Name KASSETS
Date Announced 17 Jan 2013
Category General Announcement
Reference No KH-130117-59578
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